Gas Prices Drop Before Labor Day Weekend

BALTIMORE (WJZ) —  There’s good news if you’re hitting the road for the Labor Day holiday.

Kai Jackson explains the reason behind the falling gas prices.

Even a slight drop in gas prices is good news to those on a tight budget.

It’s news that any driver would welcome: gas prices appear to be dropping.

“I think that’s great.  I drive for a living so it’s gonna benefit me,” said Aaron Franks.

Experts say the price of gas, like many commodities, is driven by supply and demand, yet the reason behind the current drop centers more on the global economy.

“The reason it’s coming down is because the economic outlook is very weak,” said gas station owner Keri Zouras.

According to AAA Mid-Atlantic, we’re paying $3.54 for a gallon of regular gas.  This time last year, gas was $2.62 a gallon, a difference of nearly $1.

AAA also says that 31.5 million Americans are expected to travel 50 miles or more from home for the Labor Day weekend, a drop of 2.4 percent.

Right now, gas prices are 52 cents below the all-time high of $4.11 set in July 2008.

Comments

One Comment

  1. dan heagy says:

    Why doesn’t this govert. get off their lazy butts and put a cap on gas at $1.50 a gallon and that would help everyone out. we could travel and take vacations and truckers could deliver good at a cheer price and prices would come down. everyone would be happier. stop paying the gas bigwigs a big paycheck off of us. stop paying for gas from other counties when we have enough for us here for 150 years. do the math. everyone should fill up with gas in the beginning of the week and not buy any for a week and then see what will happen.

  2. wutnow says:

    I run towson!

  3. Jim Horak says:

    Are gas prices really going down? Yeah, right! I’ll believe that when it hits MY pump! All I know is that I am tired of paying huge gas prices. I found a new type of Auto Club. I use their membership gas card by sticking it into gas pump and it gives me 10% right back to my account for the gas purchase. It is really no hassle, a no brainer. With money we save, we enjoy more trips, movies and family fun stuff. You can check them out at http://gaspainrelief.mygasdiscount.net , the more that are doing this the more they can discount – its kinda like Cosco or Sam’s Club in that way.

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